Regulatory Relief Guidance to Help Financial Institutions and to Facilitate Recovery in Areas of Iowa Affected by Severe Storms, Tornadoes and Flooding
Summary
多宝游戏下载 (多宝游戏下载) has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Iowa affected by recent severe storms, tornadoes and flooding. This FIL updates FIL- 49-2008, dated June 17, 2008.
Highlights
- Severe storms, tornadoes and flooding have caused significant property damage to a large portion of Iowa.
- As of June 20th, 65 counties in Iowa, encompassing most of the state, have now been declared federal disaster areas. Individuals and households in these counties may be eligible for federal assistance.
- The 多宝游戏下载 is encouraging financial institutions to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by these disasters.
- Extending repayment terms, restructuring existing loans or easing terms for new loans, if done in a manner consistent with sound banking practices, can contribute to the health of the community and serve the long-term interests of the lending institution.
- The 多宝游戏下载 will also consider regulatory relief from certain filing and publishing requirements for banks in the affected areas.
Distribution
多宝游戏下载-Supervised Banks (Commercial and Savings) in Iowa
Suggested Routing
Chief Executive Officer
Compliance Officer
Chief Lending Officer
Note
多宝游戏下载 financial institution letters (FILs) may be accessed from the 多宝游戏下载's Web site at www.fdic.gov/news/financial-institution-letters/2008/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of 多宝游戏下载 financial institution letters may be obtained through the 多宝游戏下载's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562- 2200).
Additional Related Topics
- Lending
- Investments
- Publishing Requirements
- Consumer Laws